Deputy Governor Geoff Bascand departing Bank in early 2022

Deputy Governor and General Manager Financial Stability Geoff Bascand will leave the Reserve Bank of New Zealand – Te Pūtea Matua in early 2022.

Reserve Bank Governor Adrian Orr says Mr Bascand leaves with the Bank’s deep gratitude for his contribution to the Bank and the wider financial system.

“Geoff has made an incredible contribution to the Bank, and we’re indebted to his leadership, guidance and wisdom,” Mr Orr says.

Mr Bascand has been Deputy Governor with the Bank since May 2013, and is also a member of the Monetary Policy Committee. He will leave the role in January 2022.

Mr Bascand says it has been a privilege to have worked with the Reserve Bank.

“The Bank is a special place that makes a massive contribution to New Zealanders’ wellbeing. I have had extraordinary opportunities to participate in a huge range of important initiatives, and work with many wonderful colleagues, but I want to make more time for other interests in my life.”

The Governor, the Reserve Bank Board and the Minister of Finance will determine in due course the preferred option for a replacement Deputy Governor, in line with the provisions of the RBNZ Act 1989 and RBNZ Act 2021.

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